Hut 8’s new subsidiary, American Bitcoin Corp., will be 80% owned by Hut 8. The company is contributing nearly 61,000 mining machines to this new entity. The remaining 20% stake is held by a merger of American Data Centers and American Bitcoin. Hut 8’s focus might shift to high-margin data center hosting. The potential acquisition of a hyperscaler is seen as a key growth catalyst for Hut 8. The company is expected to experience significant growth starting in the second half of the year, driven by the BITMAIN Colocation agreement. Clear Street has a buy rating on Hut 8 shares with a $23 price target. The shares rose over 4% to $12.10 in early trading. Investment bank KBW has an outperform rating on the stock with a $30 price target.
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